Clark believes that premium economy will provide a greater level
of fare flexibility in a time when falling oil prices have caused
a paradigm shift in the way his wealthy customers spend
money, Bloomberg reported.

A Dubai-based travel agent recently told Business Insider that
first- and business-class passengers have been downgrading one or
even two classes.

The new premium-economy class, which is already common on other
major airlines around the world, would be slotted between economy
and business class.

Although not as plush as Emirates' traditional business-class
offering — which includes lie-flat beds and access to the onboard
bar — premium economy will provide a significant upgrade over
coach.

In many respects, with wider seats, more legroom, and meals
served on fine china, the premium-economy experience will be more
or less that of business class more than a decade ago.

Emirates isn't the only major Middle Eastern carrier looking to
reduce its dependence on the über-wealthy. Qatar Airways has
removed the first-class suites on many of the its newest
planes. The new Airbus A350 and Boeing 787 Dreamliners in Qatar's
fleet fly with only business- and economy-class seats.

With more than 250 wide-body long-haul airliners, Emirates is the
world's largest international airline.